Home / Knowledge / News / Textiles / AWEX EMI drop by 9¢
AWEX EMI drop by 9¢
13
Dec '08
The Australian wool market finished 0.9% lower, on average, at sales in Sydney, Melbourne and Fremantle this week.

The AWEX EMI fell by 9¢ (-1.1%), ending the week at 780¢/kg. This reflected falls of 5¢ (-0.6%) in the North and 13¢ (-1.7%) in the South, with their corresponding Regional Indicators finishing the week at 813¢ and 752¢ clean, respectively. The Western Indicator fell by 4¢ (-0.5%), finishing the week at 745¢.

In a two day sale in Sydney and Melbourne, the AWEX EMI fell by 8¢ on Wednesday and by 1¢ on Thursday. The Western Indicator fell by 1¢ on Wednesday and by 3¢ on Thursday in a two day sale in Fremantle.

39,565 bales were on offer, compared with 48,339 bales last week, of which 14.2% were passed in, comprised of 8.0% in Sydney, 13.3% in Melbourne and 22.6% in Fremantle. Pass-in rates for Merino fleece and skirtings were 16.3% and 12.7%, respectively. 1,171 bales (2.9%) were withdrawn prior to sale and re-offered bales made up 15.3% of this week's offering.

The offering was surprisingly low, given that the forecast provided last Thursday night was for 45,300 bales.

The New Zealand Merino Company also offered 3,951 bales in Melbourne on Tuesday of which 29.7% were passed in. 71 bales (1.8%) were withdrawn prior to sale and 27.4% of the bales were re-offers.

The US exchange rate (source RBA) was 0.64¢ higher on Monday when compared with Thursday of last week. It was then up by a further 0.66¢ on Tuesday, by 0.43¢ on Wednesday and down by 0.49¢ on Thursday to close at 65.66¢, up 1.24¢ (+1.9%) since the last sale. The exchange rate against the Euro fell by 0.52 Euro cents (-1.0%) to close at 50.32 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI moved up by 4¢ (+0.8%) in US terms and was down by 9¢ (-2.2%) in Euro terms when compared with the previous sale.

As was the case last week, the direction of the market largely followed the changes in the US exchange rate with the EMI down by 1.1% and the US exchange rate up by 1.9%. The effects were generally seen across all Merino micron ranges, except for the 19.0 and 19.5 micron wools where the price falls were greater than for other Merino wools.

Changes in the AWEX Micron Price Guides (MPGs) for Merino wools varied from -3.1% (19.5 microns) and -2.2% (19.0 microns) to +0.1% (22.0 microns). Other changes were mostly between -1.0% and -0.5% with no apparent pattern. Average MPGs were down by 9¢ clean for 16.5 microns, by 17¢ for 17.0 microns, by 10¢ for 17.5 microns, by 1¢ for 18.0 microns, by 7¢ for 18.5 microns, by 22¢ for 19.0 microns and by 28¢ for 19.5 microns. The 20.0 micron wool average MPG was down by 6¢ clean, 21.0 microns was unchanged, 22.0 microns was up by 1¢, 23.0 microns was down by 7¢, and 24.0 microns was up by 1¢.

Prices for Merino skirtings eased on Wednesday, but recovered on Thursday, particularly in the South where wools of 19 microns and less and below 3% VM were reported to have gained around 20¢ greasy. Crossbred prices eased slightly, with their average MPGs down by 6 to 10¢, except for 30 micron wools where the average MPG was unchanged. It was a good week for oddments with the AWEX Merino Cardings average MPG up by 6¢ (+1.3%) for the week.


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X